DocuSign Correlations

DOCU Stock

USD 79.37 1.75 2.25%

The current 90-days correlation between DocuSign and Trade Desk is 0.25 (i.e., Modest diversification). The correlation of DocuSign is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

DocuSign Correlation With Market

Weak diversification

The correlation between DocuSign and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DocuSign and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with DocuSign Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in DocuSign. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

For more information on how to buy DocuSign Stock please use our How to Invest in DocuSign guide.

Moving together with DocuSign Stock

0.77	ZM	Zoom Video Communications	Pair Corr
0.87	DSGX	Descartes Systems	Pair Corr
0.68	DUOL	Duolingo	Pair Corr
0.72	WDAY	Workday	Pair Corr
0.65	ESTC	Elastic NV	Pair Corr

Moving against DocuSign Stock

0.59	YB	Yuanbao American Dep	Pair Corr
0.54	VS	Versus Systems	Pair Corr
0.56	WFCF	Where Food Comes	Pair Corr
0.36	EGAN	eGain	Pair Corr
0.31	DHX	DHI Group	Pair Corr

Related Correlations Analysis

	TTD	NOW	TEAM	SNOW	U	SHOP	DDOG	AI	WDAY	INTU
TTD		0.75	-0.15	0.8	0.63	0.85	0.77	0.79	0.34	0.76	TTD
NOW	0.75		0.24	0.72	0.33	0.72	0.62	0.64	0.62	0.67	NOW
TEAM	-0.15	0.24		-0.32	-0.34	-0.19	-0.29	-0.18	0.54	-0.34	TEAM
SNOW	0.8	0.72	-0.32		0.68	0.87	0.91	0.82	0.03	0.98	SNOW
U	0.63	0.33	-0.34	0.68		0.8	0.79	0.86	-0.25	0.66	U
SHOP	0.85	0.72	-0.19	0.87	0.8		0.92	0.87	0.11	0.82	SHOP
DDOG	0.77	0.62	-0.29	0.91	0.79	0.92		0.84	-0.05	0.86	DDOG
AI	0.79	0.64	-0.18	0.82	0.86	0.87	0.84		0.04	0.82	AI
WDAY	0.34	0.62	0.54	0.03	-0.25	0.11	-0.05	0.04		-0.04	WDAY
INTU	0.76	0.67	-0.34	0.98	0.66	0.82	0.86	0.82	-0.04		INTU
	TTD	NOW	TEAM	SNOW	U	SHOP	DDOG	AI	WDAY	INTU

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

INTU	+ 0.98	SNOW
DDOG	+ 0.92	SHOP
DDOG	+ 0.91	SNOW
SHOP	+ 0.87	SNOW
AI	+ 0.87	SHOP
AI	+ 0.86	U

High negative correlations

INTU	- 0.34	TEAM
U	- 0.34	TEAM
SNOW	- 0.32	TEAM
DDOG	- 0.29	TEAM
WDAY	- 0.25	U
SHOP	- 0.19	TEAM

Risk-Adjusted Indicators

There is a big difference between DocuSign Stock performing well and DocuSign Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze DocuSign's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TTD	2.31	0.79	0.24	8.24	1.99	(2.54)	6.37	(3.70)	25.09
NOW	1.49	0.13	0.11	0.23	1.33	(1.73)	3.46	(2.43)	19.99
TEAM	2.11	(0.17)	0.00	(0.01)	0.00	0.00	3.98	(5.42)	17.51
SNOW	1.55	0.50	0.29	0.60	0.97	(1.70)	4.41	(2.06)	16.92
U	3.02	0.97	0.34	0.84	2.13	(3.58)	7.62	(5.08)	17.80
SHOP	2.32	0.41	0.23	0.32	1.89	(2.63)	5.63	(3.86)	18.01
DDOG	1.75	0.58	0.35	0.68	1.19	(2.19)	4.17	(2.24)	19.16
AI	2.66	0.39	0.19	0.37	2.22	(3.74)	5.28	(4.06)	26.86
WDAY	1.33	(0.14)	(0.03)	0.02	3.05	(1.10)	2.85	(2.94)	17.86
INTU	1.09	0.26	0.21	0.46	0.71	(1.30)	2.59	(1.60)	10.80

DocuSign Corporate Management

Pascal Colin	MD VP	Profile
Amy SkeetersBehrens	Executive Impact	Profile
Dmitri Krakovsky	Chief Officer	Profile
Anwar Akram	Chief Officer	Profile

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